As a benchmark, the EF 24-70mm f/4L launched in 2012 at $1499. Given that, $1400 —in today's dollars and factoring in Canon's tariff-based price increases— seems consistent. A slightly shorter zoom ratio (2.5x vs. 2.9x), but providing an ultrawide focal length and the power zoom feature. So while $1400 is not cheap, it actually seems pretty reasonable to me.